$11 Billion For Melbourne Metro Rail Funding

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This year’s state budget has good news for Melbourne, as the Victorian Government says yes to providing all funding for the Melbourne Metro Rail Project.

The Melbourne Metro Rail project is worth $11 billion and involves five underground railway stations and two tunnels that will each be 9km long, travelling under the CBD. $2.6 billion will come from forward estimates, while the Government has also said that the remaining $6.4 billion will come from future budgets.

[cwa id='content-ad']While the Turnbull Government refused to fund the rail and instead wanted Victoria to go ahead with the East West Link, Treasurer Tim Pallas has said that the state will continue to see if the Federal Government will be involved, but the project is too important for it to be delayed.

Mr Pallas said that they “...just can’t wait.”, saying that Victorians need to know that the Government is serious about delivering the project and that they will do it with or without the Federal Government.

“We want to do it with them”, he said. “This is not about politics, it’s about getting stuff done.” Mr Pallas also referred to the Prime Minister as a “merchant banker”, saying that it made little sense for the state to take a loan from the Federal Government instead of borrowing on its own. He said that the Federal Government is failing to support projects in the state, implying that the Federal Government doesn’t know where Victoria is, since their allocations have been so low.

Along with the Melbourne Metro Rail, the budget includes $875 million which will pay for 28 high-capacity trains. It has also included $588 million which will go towards extending the South Morang rail to Mernda, $1.3 billion towards regional rail and $140 million which will be going towards upgrading the Hurstbridge Line.

Sources: Yahoo News, Sky News, 9 News, ABC News, Sydney Morning Herald.

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